Coal India Limited floats expression of interest to acquire coking coal assets overseas

Thursday, 06 June 2019 10:37:05 (GMT+3)   |   Kolkata

Indian state-run miner, Coal India Limited (CIL) is seeking to acquire coking coal assets overseas, company sources said on Thursday, June 6.

The sources said that CIL has invited Expression of Interest (EOI) from investment bankers, owners or owners’ representatives of coal assets overseas for acquisition of such assets abroad.

Though the state miner was open to acquire suitable coking coal assets in all geographies, the company would be looking at coking coal assets which are reportedly available for strategic investments in Zimbabwe.

This was against the backdrop of a Zimbabwean delegation to India last year which had sought Indian investments in key mineral assets like coking coal, iron ore and gold in the African national, the sources added.

Significantly, last month, officials in state-run iron ore miner, NMDC Limited last month said that the latter was also scouting for suitable coking coal assets in Zimbabwe.

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